Envestnet Portfolio Solutions Inc. Sells 1,766 Shares of Prologis, Inc. (NYSE:PLD)

Envestnet Portfolio Solutions Inc. cut its stake in Prologis, Inc. (NYSE:PLD) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,909 shares of the real estate investment trust’s stock after selling 1,766 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Prologis were worth $18,594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLD. Centricity Wealth Management LLC bought a new position in shares of Prologis in the 4th quarter worth about $30,000. Dunhill Financial LLC increased its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in Prologis in the fourth quarter valued at approximately $34,000. Promus Capital LLC bought a new position in shares of Prologis during the 4th quarter worth approximately $34,000. Finally, Coastline Trust Co acquired a new stake in shares of Prologis during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Robert W. Baird raised their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wolfe Research decreased their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

PLD opened at $111.98 on Monday. The firm has a market cap of $103.79 billion, a P/E ratio of 28.00, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a 50-day moving average of $116.89 and a 200 day moving average of $117.46.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.61%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.